Merced VA Loan Rates, Closing Costs & Stats

MERCED, CA

A VA loan is a mortgage loan that’s backed by the Department of Veterans Affairs (VA) for those who have served or are presently serving in the U.S. military. The VA does not directly lend, it guarantees the loans made by private lenders to veterans, active military personnel, and qualifying military spouses.

The most obvious benefit of VA loans is that no downpayment is necessary to purchase a home. They will also typically have significantly lower fees-- meaning that if you're eligible to receive a VA loan, it will likely be the most favorable option. VA loans come in 3 varities: purchase, refinance and cash out refis.

For additional benefits of VA loans, click here.

Merced's 39 lenders originated 120 VA loans during 2023. The total origination value was $46,350,000, with an average VA loan value of $386,250.

Merced VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Merced averaged 6.24% for the week of 2024-06-07, compared to the national average (all VA variants) of 6.387% for the same period.

Merced's average VA mortgage closing costs are $6,578.

The average rate for the prior week (2024-05-31) was 6.55% and one month ago for the week of 2024-05-03, the average rate was 6.78%.

The average rate one year ago was 6.48%.

For refis of the same type during the week of 2024-06-07, the average rate was 6.48%.

Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

Merced VA Loan Lenders by Rates & Fees

The below table looks at the average fees/closing costs and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Merced level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
UNITED WHOLESALE MORTGAGE, LLC 19 6.11% $11,768
AMERICAN FINANCIAL NETWORK, INC. 12 6.73% $9,366
Mortgage Research Center, LLC 10 6.58% $6,940
QUICKEN LOANS, LLC 10 6.43% $11,133
LOANDEPOT.COM, LLC 5 5.47% $20,465
FREEDOM MORTGAGE CORPORATION 5 6.75% $15,619
DHI MORTGAGE COMPANY, LTD. 5 5.65% $7,903
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 4 5.75% $9,392
CARDINAL FINANCIAL 4 6.66% $16,747
NAVY FEDERAL CREDIT UNION 4 5.75% $3,985
CROSSCOUNTRY MORTGAGE, LLC 3 5.75% $9,847
VILLAGE CAPITAL MORTGAGE 2 6.88% $7,657
Century Mortgage Company DBA Century Lending Company 2 6.25% $18,443
INSPIRE HOME LOANS INC. 2 5.38% $3,505
Lakeview Community Capital, LLC 2 5.69% $14,635
Mr. Cooper ( Nationstar Mortgage ) 2 5.81% $14,239
NEW DAY FINANCIAL, LLC 2 7.49% $13,389
ACADEMY MORTGAGE CORPORATION 2 6.00% $7,995
Equity Prime Mortgage LLC 1 6.50% $18,910
TOP FLITE FINANCIAL, INC. 1 6.75% $17,643
Nations Lending Corporation 1 5.75% $13,261
ENVOY MORTGAGE, LTD 1 6.75% $11,721
NETWORK CAPITAL FUNDING CORPORATION 1 5.25% $8,731
AMERICAN PACIFIC MORTGAGE CORPORATION 1 5.13% $5,164
OCMBC, INC. 1 7.13% $10,267
PACIFIC RESIDENTIAL MORTGAGE, LLC 1 7.13% $4,482
PANORAMA MORTGAGE GROUP, LLC 1 7.25% $20,427
Paramount Residential Mortgage Group, Inc. 1 6.75% $3,598
PENNYMAC LOAN SERVICES, LLC 1 5.13% $26,319
PENTAGON FEDERAL CREDIT UNION 1 5.38% $5,490
PLAZA HOME MORTGAGE, INC. 1 5.75% $19,464
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 7.25% $7,478
DIRECTIONS EQUITY, LLC 1 6.25% $9,546
RESIDENTIAL BANCORP 1 6.63% $24,719
SCENIC OAKS FUNDING, INC. 1 5.50% $13,966
The Federal Savings Bank 1 6.75% $13,928
GUARANTEED RATE, INC. 1 5.65% $10,857
Magnolia Bank 1 6.13% $12,835
MASON MCDUFFIE MORTGAGE CORPORATION 1 5.75% $11,153

The top Merced VA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 19 VA loans originated. Their average total fees are $11,768, which is $2,402 higher than the next largest lender, AMERICAN FINANCIAL NETWORK, INC..

The lowest fee Merced VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($6,940), AMERICAN FINANCIAL NETWORK, INC. ($9,366), QUICKEN LOANS, LLC ($11,133), UNITED WHOLESALE MORTGAGE, LLC ($11,768) and .

The lowest rate Merced VA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (6.11%), QUICKEN LOANS, LLC (6.43%), Mortgage Research Center, LLC (6.58%), AMERICAN FINANCIAL NETWORK, INC. (6.73%) and .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Merced (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
2018-01-01 $299,450 (7.0%) $350,837 (3.5%) 1.11 477
2018-02-01 $298,733 (8.6%) $354,156 (-20.3%) 1.08 457
2018-03-01 $296,170 (8.2%) $346,615 (3.0%) 1.04 460
2018-04-01 $294,925 (5.7%) $339,152 (-0.2%) 1.00 475
2018-05-01 $299,475 (6.0%) $358,718 (2.2%) 1.00 455
2018-06-01 $298,840 (4.9%) $362,682 (0.9%) 1.00 455
2018-07-01 $305,000 (5.2%) $367,378 (3.0%) 1.02 489
2018-08-01 $310,065 (8.6%) $371,008 (7.7%) 1.04 534
2018-09-01 $300,000 (3.6%) $358,518 (3.1%) 1.01 572
2018-10-01 $305,915 (5.6%) $372,978 (8.0%) 1.04 634
2018-11-01 $299,900 (0.5%) $353,721 (1.5%) 1.02 652
2018-12-01 $299,900 (-1.7%) $354,790 (0.9%) 1.03 653
2019-01-01 $299,475 (0.0%) $360,698 (2.8%) 1.03 619
2019-02-01 $305,250 (2.2%) $358,154 (1.1%) 1.03 642
2019-03-01 $311,714 (5.3%) $589,720 (70.1%) 1.02 628
2019-04-01 $318,908 (8.1%) $749,855 (121.1%) 1.01 622
2019-05-01 $325,250 (8.6%) $385,989 (7.6%) 1.02 640
2019-06-01 $329,900 (10.4%) $393,216 (8.4%) 1.03 665
2019-07-01 $333,700 (9.4%) $402,317 (9.5%) 1.04 653
2019-08-01 $329,136 (6.2%) $396,528 (6.9%) 1.04 642
2019-09-01 $324,841 (8.3%) $396,435 (10.6%) 1.04 620
2019-10-01 $321,977 (5.3%) $396,373 (6.3%) 1.04 605
2019-11-01 $320,000 (6.7%) $395,190 (11.7%) 1.05 546
2019-12-01 $319,950 (6.7%) $400,226 (12.8%) 1.07 519
2020-01-01 $316,969 (5.8%) $399,872 (10.9%) 1.06 489
2020-02-01 $329,900 (8.1%) $406,221 (13.4%) 1.08 446
2020-03-01 $337,500 (8.3%) $388,434 (-34.1%) 1.06 429
2020-04-01 $344,500 (8.0%) $387,096 (-48.4%) 1.08 433
2020-05-01 $349,900 (7.6%) $886,825 (129.8%) 1.06 442
2020-06-01 $349,950 (6.1%) $393,833 (0.2%) 1.03 377
2020-07-01 $349,225 (4.7%) $474,433 (17.9%) 1.01 295
2020-08-01 $347,500 (5.6%) $495,306 (24.9%) 1.00 225
2020-09-01 $333,185 (2.6%) $506,156 (27.7%) 0.95 216
2020-10-01 $339,900 (5.6%) $512,485 (29.3%) 0.97 232
2020-11-01 $345,000 (7.8%) $497,379 (25.9%) 1.01 287
2020-12-01 $369,950 (15.6%) $533,576 (33.3%) 1.10 244
2021-01-01 $379,000 (19.6%) $569,047 (42.3%) 1.13 198
2021-02-01 $377,900 (14.6%) $605,898 (49.2%) 1.10 174
2021-03-01 $379,675 (12.5%) $603,936 (55.5%) 1.08 173
2021-04-01 $378,675 (9.9%) $604,881 (56.3%) 1.03 158
2021-05-01 $385,000 (10.0%) $610,046 (-31.2%) 1.02 161
2021-06-01 $390,450 (11.6%) $586,095 (48.8%) 1.03 191
2021-07-01 $395,000 (13.1%) $585,220 (23.4%) 1.04 214
2021-08-01 $400,703 (15.3%) $588,135 (18.7%) 1.07 232
2021-09-01 $399,950 (20.0%) $579,196 (14.4%) 1.07 274
2021-10-01 $412,500 (21.4%) $619,992 (21.0%) 1.10 260
2021-11-01 $424,975 (23.2%) $721,416 (45.0%) 1.14 247
2021-12-01 $429,500 (16.1%) $704,181 (32.0%) 1.16 231
2022-01-01 $437,000 (15.3%) $740,690 (30.2%) 1.18 187
2022-02-01 $449,500 (19.0%) $757,590 (25.0%) 1.17 195
2022-03-01 $447,500 (17.9%) $725,601 (20.2%) 1.12 222
2022-04-01 $450,000 (18.8%) $714,953 (18.2%) 1.07 259
2022-05-01 $471,000 (22.3%) $719,866 (18.0%) 1.08 319
2022-06-01 $469,745 (20.3%) $703,604 (20.1%) 1.05 390
2022-07-01 $445,999 (12.9%) $614,826 (5.1%) 1.00 473
2022-08-01 $433,375 (8.2%) $610,052 (3.7%) 1.00 462
2022-09-01 $435,225 (8.8%) $611,810 (5.6%) 1.02 455
2022-10-01 $428,000 (3.8%) $540,096 (-12.9%) 1.01 450
2022-11-01 $420,000 (-1.2%) $533,140 (-26.1%) 1.01 438
2022-12-01 $428,500 (-0.2%) $514,681 (-26.9%) 1.06 381
2023-01-01 $422,245 (-3.4%) $509,052 (-31.3%) 1.05 332
2023-02-01 $439,500 (-2.2%) $549,859 (-27.4%) 1.06 300
2023-03-01 $437,000 (-2.4%) $543,071 (-25.2%) 1.03 284
2023-04-01 $440,995 (-2.0%) $553,191 (-22.6%) 1.03 245
2023-05-01 $449,985 (-4.5%) $562,926 (-21.8%) 1.02 242
2023-06-01 $449,945 (-4.2%) $556,262 (-20.9%) 1.01 273
2023-07-01 $449,000 (0.7%) $551,192 (-10.4%) 1.02 307
2023-08-01 $458,220 (5.7%) $562,530 (-7.8%) 1.05 315
2023-09-01 $442,439 (1.7%) $529,845 (-13.4%) 1.03 333
2023-10-01 $434,500 (1.5%) $498,041 (-7.8%) 1.02 347
2023-11-01 $434,488 (3.5%) $507,398 (-4.8%) 1.03 342
2023-12-01 $439,975 (2.7%) $549,388 (6.7%) 1.07 312
2024-01-01 $443,498 (5.0%) $554,264 (8.9%) 1.08 274
2024-02-01 $452,495 (3.0%) $569,679 (3.6%) 1.09 254
2024-03-01 $466,514 (6.8%) $585,844 (7.9%) 1.10 269
2024-04-01 $467,498 (6.0%) $588,456 (6.4%) 1.09 296
2024-05-01 $483,553 (7.5%) $631,715 (12.2%) 1.09 288
Merced's median listing price for 2024-05-01 was $483,553, a difference of $33,568 (7.5%) versus the prior year and $16,055 versus the prior month.

Merced's median listing price comes in at 109% of the national average.

Merced's average listing price for 2024-05-01 was $631,715, a difference of $68,789 (12.2%) versus the prior year and $43,259 versus the prior month.

For the 2024-05-01 period, Merced had 288 MLS listings, a difference of -8 listings (-3%) versus the prior month and 46 listings (19%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Merced (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 53 days 1,757 sqft
2018-02-01 49 days 1,757 sqft
2018-03-01 43 days 1,730 sqft
2018-04-01 39 days 1,700 sqft
2018-05-01 40 days 1,744 sqft
2018-06-01 43 days 1,749 sqft
2018-07-01 42 days 1,774 sqft
2018-08-01 44 days 1,733 sqft
2018-09-01 48 days 1,729 sqft
2018-10-01 43 days 1,760 sqft
2018-11-01 52 days 1,720 sqft
2018-12-01 64 days 1,726 sqft
2019-01-01 73 days 1,720 sqft
2019-02-01 66 days 1,776 sqft
2019-03-01 58 days 1,818 sqft
2019-04-01 50 days 1,867 sqft
2019-05-01 46 days 1,870 sqft
2019-06-01 51 days 1,854 sqft
2019-07-01 52 days 1,876 sqft
2019-08-01 55 days 1,843 sqft
2019-09-01 61 days 1,829 sqft
2019-10-01 64 days 1,818 sqft
2019-11-01 65 days 1,814 sqft
2019-12-01 73 days 1,761 sqft
2020-01-01 69 days 1,719 sqft
2020-02-01 62 days 1,772 sqft
2020-03-01 55 days 1,806 sqft
2020-04-01 61 days 1,804 sqft
2020-05-01 69 days 1,844 sqft
2020-06-01 65 days 1,862 sqft
2020-07-01 67 days 1,834 sqft
2020-08-01 52 days 1,827 sqft
2020-09-01 47 days 1,746 sqft
2020-10-01 37 days 1,749 sqft
2020-11-01 32 days 1,729 sqft
2020-12-01 45 days 1,831 sqft
2021-01-01 52 days 1,815 sqft
2021-02-01 31 days 1,683 sqft
2021-03-01 33 days 1,649 sqft
2021-04-01 41 days 1,700 sqft
2021-05-01 40 days 1,700 sqft
2021-06-01 27 days 1,692 sqft
2021-07-01 31 days 1,713 sqft
2021-08-01 34 days 1,739 sqft
2021-09-01 35 days 1,724 sqft
2021-10-01 39 days 1,703 sqft
2021-11-01 43 days 1,593 sqft
2021-12-01 50 days 1,619 sqft
2022-01-01 58 days 1,564 sqft
2022-02-01 36 days 1,568 sqft
2022-03-01 29 days 1,658 sqft
2022-04-01 33 days 1,693 sqft
2022-05-01 35 days 1,775 sqft
2022-06-01 37 days 1,780 sqft
2022-07-01 37 days 1,720 sqft
2022-08-01 49 days 1,702 sqft
2022-09-01 56 days 1,713 sqft
2022-10-01 52 days 1,727 sqft
2022-11-01 59 days 1,731 sqft
2022-12-01 71 days 1,744 sqft
2023-01-01 77 days 1,717 sqft
2023-02-01 79 days 1,790 sqft
2023-03-01 55 days 1,709 sqft
2023-04-01 48 days 1,711 sqft
2023-05-01 43 days 1,738 sqft
2023-06-01 37 days 1,743 sqft
2023-07-01 40 days 1,725 sqft
2023-08-01 44 days 1,719 sqft
2023-09-01 46 days 1,677 sqft
2023-10-01 45 days 1,667 sqft
2023-11-01 50 days 1,694 sqft
2023-12-01 64 days 1,671 sqft
2024-01-01 67 days 1,705 sqft
2024-02-01 44 days 1,722 sqft
2024-03-01 38 days 1,763 sqft
2024-04-01 37 days 1,727 sqft
2024-05-01 35 days 1,763 sqft
Merced's median listing age (time on market) for 2024-05-01 was 35 days. This is -20% shorter than the same period one year ago.

Merced's median square footage for active listings during the 2024-05-01 period was 1,763 sqft. One year prior, the average listing was 1,738 sqft.

VA Loan Features

  • No down payment required
  • Negotiable and competitive interest rate.
  • Ability to finance the VA funding fee (plus reduced funding fees with a down payment of at least 5 percent and exemption for veterans receiving VA compensation).
  • VA rules limit the amount you can be charged for closing costs.
  • Closing costs are comparable with other financing types (and may be lower).
  • Closing costs may be paid by the seller.
  • No private mortgage insurance premiums are required.
  • An assumable mortgage.
  • Right to prepay your mortgage without penalty.
  • For homes inspected by VA during construction, a warranty from builder and assistance from VA to obtain cooperation of builder.
  • VA assistance to veteran borrowers in default due to temporary financial difficulty.